#shiba #shibanextmove #Shibaprice $SHIB
Could Shiba Inu Reach $0.000045? Key Support and Resistance Levels to Monitor
Shiba Inu (SHIB) is at a pivotal point in its price trajectory, with potential to either rally toward new highs or revisit lower support levels. Recent technical analysis on TradingView highlights crucial support and resistance zones that could influence SHIB’s near-term movement. Analyzing the daily candlestick chart for SHIB/USDT, the data suggests the possibility of a sharp rally toward $0.000045 if certain resistance levels are surpassed.
Key Support and Resistance Levels
Resistance Zones to Watch:
$0.00003239
This immediate resistance level could pose a challenge for SHIB, as it previously acted as a barrier in December 2024. Breaking above this level may indicate renewed bullish momentum, encouraging buyers to push the price higher.
$0.00004563
Considered a critical psychological level, this resistance point represents the peak of SHIB’s price earlier in 2024. A successful breakout here would reflect significant market optimism and could position SHIB to challenge its previous all-time highs.
Support Levels to Monitor:
$0.00001035
This level has historically acted as strong support, with notable rebounds observed in 2024, particularly on August 5. A hold above this level could signal sustained buyer interest and potentially stabilize the price trend.
Below $0.00001035
A failure to maintain the $0.00001035 support would likely weaken buyer confidence, creating opportunities for the price to test even lower levels. This could introduce a bearish sentiment into the market.
Outlook for SHIB
For Shiba Inu to sustain its upward momentum and aim for $0.000045, it must first break through the key resistance at $0.00003239. However, a failure to hold critical support levels could lead to a bearish outlook in the short term. As always, market participants should watch these levels closely for insights into SHIB’s next moves.